It is Labor Day, and I am full of random thoughts. (1) Looks like Gov. Granholm was playing her own “gas game” with Marathon/Speedway, according to Saturday’s GR Press, as she commended “the state’s largest supplier of gasoline” for dropping prices to $2.99 a gallon on Friday. (2) They probably dropped the price because wholesale prices got back under control on Friday, with the futures losing at least 20 cents. Today you can buy gas in town for $2.88 a gallon! (3) Should I feel complimented or annoyed at the GR Press’ new feature on page 1: “The Gas Gauge”? (4) If the way the retailers calculate gas prices is returning to normal, and if there is no “fudge factor” adjustment to make because of shortages in the Michigan/Illinois region, then the 20-cent margin price this weekend on new shipments is $2.85 a gallon and the 0-cent margin price is $2.64. There’s been an adjustment of about 10 cents upwards the past three weeks, so figure that on Tuesday, the floor for prices is around $2.75. (5) I’m going to predict prices keep falling until Thursday, and then they get reset, and we start over again. These days, it is foolish to predict three days in advance, so I plan to post an update on Wednesday. Prices have been falling verrrry slowwwwly since Monday, so I don’t think the prediction is worth grading.
- $3 gas in 2018 and other fearless predictions: https://t.co/c5SaxSu8ms 06:05:06 PM January 01, 2018 from Twitter Web Client
- You snooze, you lose ... https://t.co/EpF25AgY1v 06:41:20 PM December 17, 2017 from Twitter Web Client
- It's the most wonderful time of the year ... to buy gas! https://t.co/rBFbqhfCgN 11:05:58 AM December 03, 2017 from Twitter Web Client
Why We Are Here
Ed A.: ab...@gvsu.edu
Craig P.: cr...@paull.net
Tim S.: ts...@gmail.com
Bill E.: pa...@yahoo.com
The name of the site is based off an essay Ed wrote for the Grand Rapids Press titled "The Gas Game". The current website was established later by Patrick DeHaan after he and Ed predicted gas price hikes on GasBuddy's website GrandRapidsGasPrices.com, as well as Ed’s personal web page.
Note: To be precise, add 9/10 of a cent to all prices described on this web page.
AXXIS capacity Chicago Premium competition contracts demand diesel DOE dollar expansion fire fudge factor futures gasoline gas prices gouging Hurricane indiana inventories maintenance margin market no prediction NYMEX Ohio oil PADD prediction price hike prices fall production profit refineries refinery refinery utilization report retailer shutdown Speedway stockpiles storage tv utilization wholesale prices WOOD